Stocks and Shares: Digital Assets
The question
To ask the Chancellor of the Exchequer, if her Department has plans to bring forward legislative proposals on the regulation of securities tokenisation.
Answered by Tulip Siddiq
The government recognises the potential of tokenisation to transform the UK’s financial services sector by enhancing efficiency, increasing liquidity, and strengthening risk management.
The government is taking forward the new Digital Securities Sandbox, which will allow the Treasury and financial regulators to assess how securities can be tokenised including through the use of Distributed Ledger Technology. In particular, the sandbox will assess whether the existing regulatory framework appropriately support and regulates such assets, and whether any changes are needed. The Treasury will report to Parliament on lessons learnt through the sandbox.
Additionally, the Ministry of Justice has introduced into Parliament the Property (Digital Assets etc) Bill, which will confirm in statute the common law position that certain digital assets can possess personal property rights.
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